OSLO, NORWAY--(Marketwired - May 16, 2013) - Intended for US Media only

Algeta ASA (OSE: ALGETA) announces that further analyses of data subsets
from the phase III ALSYMPCA study of the recently FDA-approved Xofigo®
(radium Ra 223 dichloride, radium 223) will be presented at the 49(th)
Annual Meeting of the American Society of Clinical Oncology (ASCO),31 May-4
June, in Chicago, IL (USA).

Efficacy and safety of radium-223 dichloride (Ra-223) in
castration-resistant prostate cancer (CRPC) patients with bone metastases
who did or did not receive prior docetaxel (D) in the phase 3 ALSYMPCA
trial

Xofigo is indicated for the treatment of patients with
castration-resistant prostate cancer, symptomatic bone metastases and no
known visceral metastatic disease.

Xofigo is an alpha particle-emitting radioactive therapeutic agent with an
anti-tumor effect on bone metastases. The active ingredient in Xofigo is
the alpha
particle-emitting isotope radium 223, which mimics calcium and forms
complexes
with the bone mineral hydroxyapatite at areas of increased bone turnover,
such
as bone metastases. The high linear energy transfer of Xofigo may cause
double-strand DNA breaks in adjacent cells, resulting in an anti-tumor
effect on bone metastases. The alpha particle range from radium 223
dichloride is less than
100 micrometers, which may limit the damage to the surrounding normal
tissue(1).

In September 2009, Algeta signed an agreement with Bayer for the
development and
commercialization of Xofigo. Under the terms of the agreement, Bayer
will
develop, apply for health authority approvals worldwide and commercialize
Xofigo
globally. Algeta US, LLC will co-promote Xofigo with Bayer in the US.

Important Safety Information for Xofigo (radium Ra 223 dichloride)

Xofigo is contraindicated in women who are or may become pregnant.
Xofigo can
cause fetal harm when administered to a pregnant woman.

In the randomized trial, 2% of patients in the Xofigo arm experienced
bone
marrow failure or ongoing pancytopenia, compared to no patients treated
with
placebo. There were two deaths due to bone marrow failure. For 7 of 13
patients
treated with Xofigo bone marrow failure was ongoing at the time of death.
Among
the 13 patients who experienced bone marrow failure, 54% required
blood
transfusions. Four percent (4%) of patients in the Xofigo arm and 2%
in the
placebo arm permanently discontinued therapy due to bone marrow
suppression. In
the randomized trial, deaths related to vascular hemorrhage in association
with
myelosuppression were observed in 1% of Xofigo-treated patients
compared to
0.3% of patients treated with placebo. The incidence of infection-related
deaths
(2%), serious infections (10%), and febrile neutropenia (less than
1%) was
similar for patients treated with Xofigo and placebo. Myelosuppression -
notably
thrombocytopenia, neutropenia, pancytopenia, and leukopenia - has been
reported
in patients treated with Xofigo.

Monitor blood counts at baseline and prior to every dose of Xofigo.
Prior to
first administering Xofigo, the absolute neutrophil count (ANC)
should be
greater than to equal to 1.5 × 10(9)/L, the platelet count greater
than or equal
to 100 × 10(9)/L, and hemoglobin greater than or equal to 10
g/dL. Prior to
subsequent administrations, the ANC should be greater than or equal
to 1 ×
10(9)/L and the platelet count greater than or equal to 50 ×
10(9)/L.
Discontinue Xofigo if hematologic values do not recover within 6 to 8
weeks
after the last administration despite receiving supportive care.

Safety and efficacy of concomitant chemotherapy with Xofigo have not
been
established. Outside of a clinical trial, concomitant use of Xofigo in
patients
on chemotherapy is not recommended due to the potential for
additive
myelosuppression. If chemotherapy, other systemic radioisotopes, or
hemibody
external radiotherapy are administered during the treatment period,
Xofigo
should be discontinued.

Xofigo should be received, used, and administered only by authorized
persons in
designated clinical settings. The administration of Xofigo is associated
with
potential risks to other persons from radiation or contamination from
spills of
bodily fluids such as urine, feces, or vomit. Therefore, radiation
protection
precautions must be taken in accordance with national and local
regulations.

The most common adverse reactions (greater than or equal to 10%) in
patients
receiving Xofigo were nausea, diarrhea, vomiting, and peripheral edema.
Grade 3
and 4 adverse events were reported in 57% of Xofigo-treated patients and
63% of
placebo-treated patients. The most common hematologic laboratory
abnormalities
in Xofigo-treated patients (greater than or equal to 10%) were
anemia,
lymphocytopenia, leukopenia, thrombocytopenia, and neutropenia.

Algeta is a company focused on developing novel targeted therapies for
patients
with cancer based on its alpha-pharmaceutical platform. The
Company is
headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC,
based in
Cambridge, MA performing commercial marketing operations in the US.
Algeta is
listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information
please
visit www.algeta.com.

Forward-looking Statements

This news release contains certain forward-looking statements that are
based on
uncertainty, as they relate to events and depend on circumstances that
will
occur in the future and which, by their nature, may have an impact on
results of
operations and the financial condition of Algeta. Such
forward-looking statements reflect our current views and are based on the
information currently available to Algeta. Algeta cannot give any assurance
as to whether such forward looking statements will prove to be correct.
These forward looking statements include statements regarding our
anticipated co-promotion of Xofigo in the US. There are a number of
factors that could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking
statements. These factors include, among other things, risks or
uncertainties associated with the ability to identify and hire a
sufficient number of qualified employees in the US, growth management,
general economic and business conditions and the pricing environment, the
impact of competition, the ability to successfully commercialize Xofigo,
the risk that costs associated with the co-promotion of Xofigo may be
greater than anticipated, manufacturing capacity,
the risk of non-approval of patents not yet granted, risks in
obtaining
additional regulatory approvals for radium 223 and the other risks
and
uncertainties described in our annual report.